OGC and CRN partner to establish a Unique Geospatial Real Property Identifier

The Open Geospatial Consortium (OGC) announced that it has signed a Memorandum of Understanding (MoU) with the non-profit Collateral Risk Network (CRN). Under the MoU, OGC and CRN will work together to develop a unique geospatial real property identifier (PUID) that has applications in housing finance and beyond. CRN was formed in 2003 to move the collateral valuation profession forward and establish standards to ensure that appraisal reports are credible, reliable, and useful in collateral risk analysis. Standards are core to modernizing and advancing a real estate IT “Super Highway,” yet a unique property identifier is conspicuously absent. The PUID aims to provide the basis for such a catalog while ensuring that future connections to data from city, building, underground models, and/or other associated data, for example, are easily enabled. www.ogc.org